Japan govt will spend $24 billion in budget reserves to cope with price hikes

TOKYO (Reuters) – Japan will spend 3.48 trillion yen ($24.31 billion) in budget reserves to cope with ongoing price hikes and respond to COVID-19, the Ministry of Finance said on Tuesday.

The decision was made at a meeting of Prime Minister Fumio Kishida’s cabinet.

($1 = 143.1800 yen)

(Reporting by Tetsushi Kajimoto; Editing by Shri Navaratnam)